Jan. 30, 2007 (China Knowledge) – Shareholders of China Aviation Oil (Singapore) Corp. Ltd. (CAO) <CVO> have agreed to give the company more time to evaluate the proposal for asset injection, CAO said.

In a statement, CAO said: “The company is currently evaluating various asset injection proposals and the time frame as originally contemplated has since expired.”

“The parties have agreed to extend the original time frame in which the parties will endeavor to ensure the completion of the operating assets injection for a further period of 6-9 months.”

Shareholders China National Aviation Fuel Holding Co. and BP Investments Asia have proposed that assets be injected into CAO as part of corporate restructuring.